Everyone needs to pay taxes.
"Taxes are the price we pay for living in a civilized
society."
- Oliver Wendell Holmes, U.S. Supreme Court Justice
Having said that, not only do you have the right to reduce
the taxes that are asked of you in any way that the law
allows, but you have the moral obligation to yourself,
your family and your future to pay ONLY what the law requires, and
no more! Anything more than that is a voluntary contribution
made at the expense of your family’s future.
U.S. Supreme Court Justice George Sutherland said
it best in the public court record: - “The legal right of
a taxpayer to decrease the amount of what otherwise would be his
taxes, or otherwise avoid them, by means which the law permits,
cannot be doubted”
- Gregory vs. Helvering: 239 U.S. 465 (1934)
In the same case, U.S. Supreme Court Justice Learned Hand
said:
- “Anyone may so arrange his affairs that his taxes shall
be as low as possible; he is not bound to choose that pattern which
will best pay the Treasury; there is not even a patriotic duty to
increase one’s taxes.”
You’ve heard of John D. Rockefeller, the industrial magnate
and one of the founders of the Federal Reserve. He once made the
comment, to paraphrase: “I make a point to pay 10% of what
I make, whether I owe it or not!” You can bet that he structured
his affairs in such a way that the 10% he paid was more of a ‘voluntary
contribution’ than a legal requirement !
Let’s look at the opportunity cost of paying more taxes than
required by law. Let’s say that you have a taxable income
of $100,000 (If you don’t, stick around. We’ll show
you how) and you are paying 33% or $33,000 a year in income taxes,
just for a rough example.
Let’s say further that you could be making only a meager
20% a year in profits on your money. (we can show you where to do
much better than that!). So, in the fantasy world, let’s say
you were able to lawfully keep your tax money only for one year
and put it to work in a tax free growth environment.
At 20% growth per year, starting when your baby child is born,
that single $33,000 (one time only) in 18 years would grow to a
nice tidy sum of over $930,000. That’s almost one million
dollars!
Bottom line, by paying out that one time lump sum, instead of putting
it to work as the law ‘may’ allow, has cost your baby
child his/her future financial security and all of the wonderful
opportunities of life that would go with that.
Another example:
Adlai Stevenson was a statesman and delegate to the United Nations
who died at age 65 with a gross estate valued at $1,398,236. He
did not plan very well and his estate went into the probate courts,
meaning he had everything in his name (bad move).
-
Administrative expenses, attorney fees and executor fees all
took $139,054
-
Illinois state inheritance tax and federal estate taxes took
$476,670
-
A total of $615,724 was taken from his gross estate leaving
only $782,512
-
Then $17,171 more was taken to pay his debts which were due
upon death leaving only $765, 341 for his heirs.
Poor planning cost his heirs over 45% of their inherited estate
! This all could have been lawfully avoided very easily without
even 1% of asset shrinkage.
Compare poor Adlai with billionaire Texas oilman H.L. Hunt. The
secret of his wealth was not in what he owned, but what he controlled.
After his death on November 29, 1974, the Dallas Morning News carried
a surprising story about his limited personal assets at the time
of his death. He owned automobiles worth $21,250 and a meager $5,443
in the bank, and that was it!
He had diversified all of his assets into some 150 private business
trusts. His son Bunker Hunt was successor trustee to these legal
entities and he simply presented his credentials to two Dallas banks
and changed the signature cards on the accounts to his name. With
this mere administrative function, he inherited vast empire about
which the Dallas paper reported: “Hunt’s total worth
has been estimated at two to five billion dollars.”
Bunker Hunt’s newly gained wealth was untouched by those
legal sharks in the probate system who devour most estates!
You get the idea.
As you join the WWS, and later Privacy Club International,
you will learn how to better manage your business and financial
affairs so that you can enjoy the benefits of the Super Rich and
sleep well at night with security knowing that your family is going
to be well taken care of due to your foresight, knowledge and proper
planning!
It will be a learning adventure and a journey to freedom, comfort
and security!
Get started with the WWS Now!!
Contact
Us with your questions.
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- "Creating Wealth Offshore – The Time is Now."
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